Friday, April 24, 2009

RBS expects further recovery in euro short-term

Currency strategists Royal Bank of Scotland, commenting on the situation in the foreign exchange market situation, note that the events of recent days showed a slight weakening of the negative attitude regarding the single European currency, allowing the latter to begin the restoration, while at the bank saw risks that the upward adjustment will be further development. They note that recent data from Europe presented to investors pleasant surprises, and attempts to reduce the euro / dollar may provide a good opportunity to open a long position in a pair to make the motion to $ 1.35. However, RBS stressed that such a strategy would be feasible in the short term, and yet have the projection at the end of June at $ 1.27 and $ 1.21 at the end of September.

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